EOLS Makes Investors Smile, ACIU Up 72% In 4 Days, Busy Days Ahead For ABUS
The following are some of today’s top gainers in the pharma/biotech sector.
1. Biocept Inc. (BIOC)
Gained 115.22% to close Wednesday’s (Jul 11) trading at $7.92.
News: The Company has provided an informational update to stockholders regarding its proposed rights offering and the expected key dates and terms relative to the offering.
Stockholders are advised to ensure they complete their open market purchases of Biocept’s common stock by Thursday, July 19, 2018 to be considered a stockholder of record on Monday, July 23, 2018, says the Company.
Under the proposed rights offering, Biocept will distribute one non-transferable subscription right for each share of common stock and each warrant (on an as-if-converted-to-common-stock basis) held on the record date. Each right will entitle the holder to purchase one unit, at a subscription price of $1,000 per unit, consisting of one share of Series A Convertible Preferred Stock with a face value of $1,000 (and immediately convertible into shares of Biocept’s common stock at a conversion price of $4.53 per share) and 220 warrants to purchase Biocept’s common stock with an exercise price of $4.53 per share.
On July 10, 2018, the Company implemented a 1 for 30 reverse stock split.
2. AC Immune SA (ACIU)
Gained 21.52% to close Wednesday’s trading at $16.04. The stock has gained 72% over the last 4 trading days.
News: Shares of AC Immune have been on fire ever since Eisai/Biogen Inc. reported positive results from their Phase II study of BAN2401 in patients with early Alzheimer’s disease on July 5.
The Company’s lead product candidate is Crenezumab, out-licensed to Genentech, under phase III testing for the treatment and prevention of Alzheimer’s disease including the first-ever Alzheimer’s disease prevention trial.
Next in the pipeline is ACI-24, a liposomal therapeutic anti-Abeta vaccine, wholly owned by AC Immune, advancing to phase II in Alzheimer’s disease, and is in phase Ib testing in Down’s syndrome.
The other clinical candidates include ACI-35, outlicensed to Janssen Pharmaceuticals, under phase 1b study in patients with mild to moderate Alzheimer’s disease, and RO7105705, outlicensed to Genentech, under phase II study in people with prodromal-to-mild Alzheimer’s disease. In addition, the Company also has a couple of preclinical drug candidates and diagnostic product candidates.
3. Arbutus Biopharma Corporation (ABUS)
Gained 17.13% to close Wednesday’s trading at $10.60.
News: No news
Clinical Trials & Near-term Catalysts:
A phase I trial of AB-506 has been initiated. The healthy volunteer portion of the innovative Phase 1 study design will be followed by dosing cohorts of HBV patients. The initiation of dosing in HBV patients is expected later this year. Top line results are expected by Q2 2019.
The regulatory filing for AB-452 to enable Phase I clinical study start is on track for submission in Q3, with subject dosing to follow in Q4. Study completion is expected by Q3 2019.
Pending completion of the monotherapy studies for AB-506 and AB-452, Arbutus expects to begin an all-oral combination study in 2H 2019.
Interim 6-week results from the ongoing phase II study of ARB-1467 in combination with tenofovir (TDF), and pegylated interferon in chronic HBV patients are expected in Q4, 2018.
The FDA decision on Alnylam’s Patisiran for the treatment of hereditary ATTR amyloidosis is expected on August 11, 2018. Successful approval will trigger a royalty entitlement to Arbutus for the proprietary LNP technology licensed by Arbutus to Alnylam for Patisiran.
4. SCYNEXIS Inc. (SCYX)
Gained 16.36% to close Wednesday’s trading at $1.92.
News: The Company announced positive results from its Phase 2b, dose-finding study of SCY-078 for the treatment of vulvovaginal candidiasis, dubbed DOVE study.
5. Evolus Inc. (EOLS)
Gained 13.34% to close Wednesday’s trading at $27.27.
The Company is developing DWP-450 for the treatment of glabellar lines, also known as frown lines, in adult patients, a rival to Allergan’s (AGN) Botox.
In May of this year, the FDA rejected the Company’s Biologics License Application for DWP-450. There were deficiencies in items related to Chemistry, Manufacturing, and Controls (“CMC”) processes that led to the rejection. However, no deficiencies were related to clinical or non-clinical matters.
The Company expects to resubmit DWP-450 NDA to the FDA next month (August).
by RTTNews Staff Writer
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